Chinese regulator launches probe into Alibaba’s monopolistic practices

China has formally kicked off an investigation into alleged monopolistic practices at Alibaba Group Holding Ltd., escalating a campaign of scrutiny over the country’s internet giants.

The State Administration for Market Regulation is investigating Alibaba, the regulator said in a statement without giving further details. Shares in SoftBank Group Corp., Alibaba’s largest shareholder, erased gains to trade 2.3% lower in Tokyo.

A worker of the New York City Fire Department Bureau of Emergency Medical Services (FDNY EMS) receives a COVID-19 Moderna vaccine, amid the coronavirus disease (COVID-19) pandemic in the Manhattan borough of New York City, New York.